In which of the following ways, banks began in Italy and England?
a. Monarchs were the first bankers, lending out cash at zero interest to help the poor learn a craft and develop themselves intellectually.
b. Churches were the first bankers, lending out cash to help the poor learn a craft and develop independence.
c. Goldsmiths were the first bankers, and the paper receipts they issued for gold held on deposit became valued as money.
d. Fishermen were the first bankers, and the paper receipts they issued for the fish they stored in the holds of their ships became valued as money.
c
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Use the following figure to answer the question below.
The combination of sixty-five pounds of corn and sixty-five pounds of green beans is
A. attainable. B. not attainable. C. efficient. D. not efficient.
The total amount the federal government has borrowed to make expenditures that exceed tax revenue is called
A) personal income taxes. B) federal expenditures. C) total government spending. D) the net government revenue. E) the national debt.
A disadvantage of the proprietorship form of business organization is
A) its limited access to capital. B) its limited liability. C) that it can issue only one class of stock. D) that the owner must fight a lot of red tape to form the firm.
A minimum wage law might increase wages without reducing employment if the hiring firm is
a. in perfect competition. b. a monopolist. c. a monopolistic competitor. d. a monopsonist.